FameEX Morning Crypto News Recap | February 11, 2025

Musk-led Consortium to Acquire OpenAI Nonprofit for $97.4 Billion

On February 11, a Musk-led investor consortium offered $97.4 billion to acquire the nonprofit OpenAI, escalating tensions with CEO Sam Altman. Musk's lawyer, Mark Tober, confirmed the offer was submitted to the OpenAI board. Musk aims to return OpenAI to an open-source, safety-first approach. The OpenAI spokesperson has not commented.

Economists Forecast Fed Will Hold Off on Rate Cuts Until 2025

Daniel Doderer, economist at Flack Global Metals, stated that the Federal Reserve is in a favorable position to hold off on any actions. He expects supply constraints in the labor market with demand remaining steady or increasing, which suggests that the Fed will not cut interest rates this year.

Bitcoin Futures-to-Spot Ratio Hits Yearly Low, Raising Price Volatility Risk

Glassnode co-founder Negentropic noted that BTC’s futures-to-spot ratio has hit a yearly low after failed breakouts. BTC is attempting to reclaim the $97,200 to $98,500 range, crucial for reaching $100,000. A surge in futures market volume could lead to increased liquidations and heightened price volatility.

Strategy Increases Bitcoin Holdings

Strategy has added 7,633 bitcoins to its holdings, purchasing them at an average price of $97,255 per bitcoin.

Bitcoin Mining Difficulty Reaches Record High, Indicating Possible Miner Capitulation

Glassnode data shows miner capitulation began in early February, with Bitcoin falling over 4% this month. Historically, such signals mark price bottoms, suggesting Bitcoin may reach a low around $91,000. The last similar signal occurred in October 2024, which was followed by a 50% price surge.

Japan's Financial Services Agency to Implement Tax Cuts and Approve Bitcoin Spot ETF

According to Nikkei, Japan’s Financial Services Agency plans to treat crypto assets like securities, introduce tax cuts, and approve Bitcoin spot ETFs. A system reform policy is expected in June, with legal revisions slated for the 2026 Diet session. The new system may lower the tax rate from 55% to 20%.

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